Value clothing and homewares retailer TK Maxx has posted a sector-busting 5 per cent rise in like-for-like sales in the UK for its second quarter to July 26, as shoppers continue to desert the mid-market.

Total sales at the US-owned chain TK Maxx reached US$548 million (£288.9 million), generating a profit of US$13.7 million (£7.2 million).

Sales at US parent TJX Companies also rose, up 4 per cent from US$4.31 billion (£2.27 billion) to US$4.62 billion (£2.44 billion).

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